You Have 30 Or More Official Credit Scores

Why does this matter to you?

In my work in credit repair, I see a lot of credit reports. On reports pulled the same day, I’ve seen credit scores vary by as much as 100 points across various scoring models. Before applying for a loan, many consumers pull a quick, free credit report online. Only when they are turned down for that special zero-percent financing rate or a mortgage do they learn that their lender was using an entirely different model — one that showed their score as 100 points lower.

It’s not that the higher score they saw was necessarily wrong — it’s just that a different algorithm was used in calculating that score. A potential lender may look at one score or three, and they may pull from different models for the same loan. The only score that matters is the one your lender is using. Put yourself in the best negotiating position possible by researching your various credit scores ahead of time, and understand which model your lender is most likely to use.